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Mergers & Acquisitions
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September 24, 2025
UnitedHealth Fights Investor Suit Over DOJ's Merger Probe
UnitedHealth and its executives have asked a Minnesota federal judge to toss a proposed securities class action accusing it of, among many things, not disclosing that the U.S. Department of Justice had reopened an antitrust investigation into the health insurer, saying the complaint consists of unsupported "scattershot allegations."
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September 24, 2025
GSA Official Says Agencies Are Free To Reject FAR Guidance
A General Services Administration official said on Wednesday that agencies don't have to follow nonstatutory provisions that have been moved from the Federal Acquisition Regulation to guidance documents, as part of the Trump administration's regulatory overhaul.
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September 24, 2025
Skechers Investor Seeks Chancery Appraisal Of $9.4B Deal
A Skechers shareholder is asking the Delaware Chancery Court for an appraisal to determine the fairness of the $63-per-share buyout price of nearly 700,000 shares in the footwear company after its $9.4 billion take-private deal with 3G Capital.
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September 24, 2025
Standard General Founder Taking FCC Bias Suit To DC Circ.
Hedge fund manager Soo Kim is taking his allegations that the Federal Communications Commission and a cadre of media players were part of a racist conspiracy to kill his $8.6 billion merger with broadcaster Tegna Inc. to the D.C. Circuit after a lower court kiboshed the claims last month.
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September 24, 2025
Kirkland, Willkie Steer IAS' $1.9B 'AI-First' Sale To Novacap
Integral Ad Science, a global digital media measurement and optimization company, said Wednesday that it has agreed to be acquired by private equity firm Novacap in an all-cash transaction valued at about $1.9 billion, with Kirkland & Ellis LLP advising IAS and Willkie Farr & Gallagher LLP guiding Novacap.
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September 24, 2025
FTC Merger Filing Overhaul Is Clear Overstep, Chamber Says
The U.S. Chamber of Commerce and other groups challenging the Federal Trade Commission's recent overhaul of its premerger reporting requirements told a Texas federal court the changes create an unnecessary burden for thousands of deals that raise no competition concerns.
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September 24, 2025
Maverick Gaming Gets OK For $28M Card Room Sale
A Texas bankruptcy judge gave Maverick Gaming permission Wednesday to sell four of its card rooms to its founder for $28 million, a price the casino operator said was driven up more than 60% through competitive bidding.
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September 24, 2025
Del. Justices Uphold $10.5B Zendesk Take-Private Deal
Delaware's Supreme Court early Wednesday upheld the Court of Chancery's Sept. 10 dismissal of a stockholder challenge to the $10.5 billion take-private deal for software as a service business Zendesk Inc., closing the book on the case in two sentences issued two weeks after appeal arguments.
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September 24, 2025
Books Inc. Gets OK For $3.25M Sale To Barnes & Noble
California's oldest independent bookstore chain, Books Inc., received approval Wednesday from a bankruptcy judge for a $3.25 million sale to Barnes & Noble, and hopes to close on the sale Oct. 1.
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September 24, 2025
Olo Investor Sues For Records On $2B Thoma Bravo Deal
A hedge fund has filed a books and records demand against a restaurant software company in Delaware Chancery Court, hoping to investigate whether the stock price in its $2 billion merger with Thoma Bravo was fair and threatening a potential appraisal action.
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September 24, 2025
Kirkland, Davis Polk Lead Mirion's $585M Paragon Buy
Radiation detection company Mirion, advised by Davis Polk & Wardwell LLP, on Wednedsay announced that it has agreed to buy Kirkland & Ellis LLP-led nuclear power company Paragon Energy Solutions from private equity shop Windjammer Capital in a $585 million cash deal.
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September 24, 2025
Loeb & Loeb, Kirkland Guide SPAC Lafayette's $250M IPO
Guided by Loeb & Loeb LLP and underwriters' counsel Kirkland & Ellis LLP, special purpose acquisition company Lafayette Digital Acquisition I filed Tuesday for a $250 million initial public offering with the U.S. Securities and Exchange Commission with hopes to acquire blockchain- or fintech-related merger targets.
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September 24, 2025
Grid Operator TenneT Selling $11.2B Stake To Institutions
TenneT Holding said Wednesday it has agreed to sell a 46% stake in its German transmission business, TenneT Germany, to three institutional investors, raising up to €9.5 billion ($11.2 billion) in new equity to fund the expansion of the country's high-voltage grid.
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September 24, 2025
Battery Ventures Leads $165M Investment In Risk AI Biz
Wilson Sonsini Goodrich & Rosati PC-advised risk intelligence platform Signal AI on Wednesday announced that technology-focused investment firm Battery Ventures led a $165 million investment round, resulting in the firm taking a majority stake in the London-headquartered tech company.
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September 24, 2025
PE-Focused Debt Finance Pro Boosts Cooley's Boston Office
Cooley LLP has grown its debt finance practice in Boston with the addition of a Choate Hall & Stewart LLP attorney.
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September 24, 2025
Lego To Acquire 'Discovery Centers' From Merlin For £200M
Danish toy company Lego Group said Wednesday that it will buy 29 "discovery centers" that provide customers with brand experiences from U.K. theme park operator Merlin Entertainments for £200 million ($269 million).
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September 23, 2025
Watchdog Calls For DC, Md. Bar Investigations Into Carr
A government accountability watchdog brought a complaint against Federal Communications Chair Brendan Carr to the D.C. Bar Association on Tuesday, claiming Carr violated conduct rules when he threatened to bring FCC action against ABC if it declined to discipline Jimmy Kimmel over his remarks following Charlie Kirk's murder.
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September 23, 2025
How Attys Are Riding The Mass. Biotech 'Roller Coaster'
The first half of 2025 saw the Massachusetts biotech industry post bleak numbers, including a dip in venture capital funding and merger activity, leaving attorneys looking for creative ways to help companies with fewer public and private dollars.
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September 23, 2025
Software Co. Says Seller Is Trying To Back Out Of Merger Deal
Software company Livefront LLC has sued in the Delaware Chancery Court to force through a stalled acquisition, accusing seller Zeal IT Consultants of trying to get out of an already agreed-upon deal.
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September 23, 2025
4 Firms Pave Way For $1B All-Cash Drainage Systems Deal
Advanced Drainage Systems said Tuesday it will acquire National Diversified Sales, the water management business of Germany's Norma Group SE, in an all-cash deal valued at about $1 billion.
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September 23, 2025
Climate Transition-Focused SPAC Plans For $150M IPO
Special purpose acquisition company Climate Transition Special Opportunities SPAC I has filed plans with U.S. regulators to raise up to $150 million in its initial public offering, with the goal of acquiring a company in the renewable energy or specialty finance space.
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September 23, 2025
Foley & Lardner Adds Healthcare Deals Pro From Holland & Knight
Foley & Lardner LLP has continued its expansion in Nashville with the addition of another former Holland & Knight LLP attorney, expanding its healthcare and life sciences and manufacturing sector capabilities.
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September 23, 2025
Sullivan & Cromwell Guides Sempra On $10B Subsidiary Sale
Sempra said Tuesday it has agreed to sell a 45% stake in its infrastructure subsidiary to a consortium led by KKR and Canada's CPP Investments for $10 billion, while separately securing $7 billion of equity financing led by Blackstone to advance a major liquefied natural gas project in Texas.
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September 23, 2025
Morningstar Nabs Market Data Provider CRSP In $375M Deal
Investment insights provider Morningstar Inc., advised by Mayer Brown LLP, on Tuesday announced plans to acquire the Center for Research in Security Prices, which collects stock market data and builds indexes, from the University of Chicago, led by Reed Smith LLP, in a $375 million deal.
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September 23, 2025
Norwegian Recycler Tomra To Buy US Rival For $60M
Norway's Tomra Systems ASA said Tuesday that it plans to buy the owner of Clynk, a U.S. bottle recycling company, for up to $60 million to strengthen its position in North America and provide innovative solutions to its customers.
Expert Analysis
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Keys To Regulatory Diligence In Life Sciences Transactions
Conducting effective regulatory due diligence for life sciences deals requires careful review of a target company's activities, and separate sets of considerations for commercial and pipeline products, says Anna Zhao at GunnerCooke.
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Series
Volunteer Firefighting Makes Me A Better Lawyer
While practicing corporate law and firefighting may appear incongruous, the latter benefits my legal career by reminding me of the importance of humility, perspective and education, says Nicholas Passaro at Ford.
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Calif. Antitrust Laws May Turn More Zealous Than US Regs
California is poised in the next 18 months to significantly expand its antitrust laws, broadening the scope of liability and creating a premerger review process that could be more expansive than review under the Hart-Scott-Rodino Act, say attorneys at Munger Tolles.
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E-Discovery Quarterly: The Perils Of Digital Data Protocols
Though stipulated protocols governing the treatment of electronically stored information in litigation are meant to streamline discovery, recent disputes demonstrate that certain missteps in the process can lead to significant inefficiencies, say attorneys at Sidley.
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A Look At M&A Trends In An Uncertain Deal Environment
Dealmakers are adopting more cautious and deliberate merger and acquisition practices, such as earnout agreements, joint ventures and strategic partnerships that mitigate risk and bridge valuation gaps, amid the slower pace so far in 2025, says Louis Lehot at Foley & Lardner.
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Series
Law School's Missed Lessons: Preparing For Corporate Work
Law school often doesn't cover the business strategy, financial fluency and negotiation skills needed for a successful corporate or transactional law practice, but there are practical ways to gain relevant experience and achieve the mindset shifts critical to a thriving career in this space, says Dakota Forsyth at Olshan Frome.
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FTC Focus: Synthetic Data Yields Antitrust Considerations
Attorneys at Proskauer explore the burgeoning world of synthetic data, the antitrust implications involved, the Federal Trade Commission's role in regulating this space and practical takeaways from these emerging issues.
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Opinion
Slater Heralds Return To US Antitrust Norms, Innovation
Under recently confirmed Assistant Attorney General Gail Slater, the Antitrust Division of the U.S. Department of Justice can fulfill President Donald Trump's objective to reestablish American economic dominance on the global stage while remaining faithful to antitrust's core principles, says Ediberto Roman at the Florida International University College of Law.
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A Cold War-Era History Lesson On Due Process
The landmark Harry Bridges case from the mid-20th century Red Scare offers important insights on why lawyers must be free of government reprisal, no matter who their client is, says Peter Afrasiabi at One LLP.
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Series
Improv Makes Me A Better Lawyer
Improv keeps me grounded and connected to what matters most, including in my legal career where it has helped me to maintain a balance between being analytical, precise and professional, and creative, authentic and open-minded, says Justine Gottshall at InfoLawGroup.
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How BigLaw Executive Orders May Affect Smaller Firms
Because of the types of cases they take on, solo practitioners, small law firms and public interest attorneys may find themselves more dramatically affected by the collective impact of recent government action involving the legal industry than even the BigLaw firms named in the executive orders, says Reuben Guttman at Guttman Buschner.
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4th Circ. Health Data Ruling Opens Door To State Law Claims
In Real Time Medical v. PointClickCare, the Fourth Circuit recently clarified that state law claims can rest in part on violations of a federal law that prohibits electronic health information blocking, expanding legal risks for health IT companies and potentially creating exposure to a range of competitive implications, say attorneys at BCLP.
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Opinion
Lawsuits Shouldn't Be Shadow Assets For Foreign Capital
Third-party litigation financing amplifies inefficiencies from litigation and facilitates national exposure to foreign influence in the U.S. justice system, so full disclosure of financing arrangements should be required as a matter of institutional integrity, says Roland Eisenhuth at the American Property Casualty Insurance Association.
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2 Del. Rulings Reinforce Proof Needed For Records Demands
Two recent Delaware Court of Chancery decisions involving Amazon and Paramount Global illustrate the significance of the credible basis standard on books and records requests, underscoring that stockholders seeking to investigate wrongdoing must come forward with actual evidence of misconduct — not mere allegations, say attorneys at Cleary.
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How To Accelerate Your Post-Attorney Career Transition
Professionals seeking to transition to nonattorney careers may encounter skepticism as nontraditional candidates, but there are opportunities for thought leadership and to leverage speaking and writing to accelerate a post-attorney career transition, say Janet Falk at Falk Communications and Evgeny Efremkin at Toronto Metropolitan University.